Printer Friendly

INTEGON CORPORATION DECLARES 60 PERCENT INCREASE IN QUARTERLY DIVIDEND TO 8 CENTS PER SHARE PLUS A 10 PERCENT STOCK DIVIDEND

 INTEGON CORPORATION DECLARES 60 PERCENT INCREASE IN QUARTERLY
 DIVIDEND TO 8 CENTS PER SHARE PLUS A 10 PERCENT STOCK DIVIDEND
 WINSTON-SALEM, N.C., Nov. 5 /PRNewswire/ -- Integon Corporation, (NYSE: IN), announced today that its board of directors declared a 60 percent increase in its regular quarterly dividend to 8 cents per share from 5 cents per share. In addition, the board of directors declared a 10 percent stock dividend. The dividends are payable Dec. 15 to shareholders of record Nov. 17.
 Commenting on the increase, Integon President Jim Lambie said, "Raising the dividend to 8 cents at this time and declaring the stock dividend reflects the company's significant earnings growth." As reported previously, Integon earned a record $11.2 million in pro forma net income in the third quarter 1992, compared with $3.3 million in the 1991 third quarter. Boosted by a 39.4 percent rise in nonstandard auto insurance premiums written, the third quarter's total revenues were a record $57.2 million, up 21.6 percent from the comparable 1991 quarter.
 Lambie further stated that the board approved a policy to review the dividend in the first quarter of each year after completion of the fiscal year end financial results. The next review would take place in 1994. "The dividend is being reviewed earlier than normal because of the excellent results of the company year to date," Lambie said.
 Integon Corporation, through its wholly-owned property and casualty insurance subsidiaries, specializes in the underwriting and marketing of specialty automobile insurance to individuals. The company, headquartered in Winston-Salem, markets its products through over 2,800 independent agencies located in North Carolina, Virginia, Tennessee, Georgia and Florida.
 -0- 11/5/92
 /CONTACT: Gay Huntsman (investors), 919-770-3074, or Turner Coley (media), 919-760-3000, both of Integon Corporation/
 (IN) CO: Integon Corporation ST: North Carolina IN: INS SU: DIV


SH -- NY116 -- 7837 11/05/92 15:12 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1992
Words:314
Previous Article:THE FUTURE NOW, INC. ANNOUNCES THIRD-QUARTER 1992 RESULTS
Next Article:LOUIS A. FEOLA NAMED PRESIDENT OF MCA HOME VIDEO
Topics:


Related Articles
INTEGON CORPORATION DECLARES DIVIDEND
INTEGON CORPORATION DECLARES DIVIDEND
INTEGON CORPORATION DECLARES DIVIDEND, AUTHORIZES SECURITIES REPURCHASE PROGRAM
INTEGON CORPORATION INCREASES DIVIDEND
INTEGON CORPORATION DECLARES DIVIDEND ON COMMON STOCK AND CONVERTIBLE PREFERRED STOCK; REPORTS INCLUSION IN THE S&P SMALLCAP INDEX
INTEGON CORPORATION DECLARES DIVIDEND
Integon Corporation Declares Dividend
INTEGON CORPORATION DECLARES DIVIDEND
INTEGON CORPORATION DECLARES DIVIDEND
Integon Corporation Declares Dividend

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters